In a report by Superyacht Investor, the superyacht sales market is experiencing a shift as the initial frenzy gives way to a more cautious landscape. According to data provided by TJB Super Yachts, the market has seen a reduction in transactions this year, with used yacht sales down by 17% and new-build yacht sales decreasing by 27% compared to 2022.
The article sheds light on this changing market and emphasizes a growing divide between the top end of the market (70m-plus) and the lower end. Notably, it highlights insights from industry experts, including Tim Johnson, the CEO and founder of TJB Super Yachts, who suggests a ‘cooling off’ period is underway. Potential buyers are waiting for the right opportunity, and a shift toward a buyers’ market may be on the horizon.
The article encourages owners to question the market’s state and remain cautious due to concerns about the disparity between asking prices and selling prices. It provides valuable insights into the evolving dynamics of the superyacht sales market, with TJB Super Yachts and Tim Johnson at the forefront of this changing landscape.